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Re: echarters post# 3

Wednesday, 10/01/2003 1:00:32 PM

Wednesday, October 01, 2003 1:00:32 PM

Post# of 61
You're a little better with the geology so I'll let you speak to #1. They say they are aiming for 1 million ounces but will it be cheap to mine?

#2 By my quick reckoning they are going to have 37.3 million shares outstanding assuming all the warrants are exercised.

What is the cash position of the company? I will have to do some dd here but from this latest financing they're getting $1.75 million CDN (assuming all the warrants are exercised). How much can they drill with that?

I'm a little concerned about dilution here.

Ed